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On, Jan. 1, 2020, ABC Corporation begins using a new welding machine. The capitalized acquisition cost of the machine is $24,000. ABC plans to use

On, Jan. 1, 2020, ABC Corporation begins using a new welding machine. The capitalized acquisition cost of the machine is $24,000. ABC plans to use the machine for 12 years, at which point its salvage value is expected to be $1,800. What is the annual depreciation expense for this machine, using the straight-line method?

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